As required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, the maximum amounts of all civil monetary penalties under the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940, and certain penalties under the Sarbanes-Oxley Act of 2002 are adjusted for inflation in accordance with Table I to this subpart E. The adjustments set forth in Table I to this subpart E apply to all penalties imposed after August 1, 2016, including to penalties imposed for violations that occur before August 1, 2016.
Table I to Subpart E of Part 201 - Civil Monetary Penalty Inflation Adjustments
| U.S. Code citation | Civil monetary penalty description | Year penalty amount was established or last adjusted * | Maximum penalty amount when established or last adjusted | Maximum penalty amount in effect on November 2, 2015 | New adjusted maximum penalty amount effective August 1, 2016 |
|---|---|---|---|---|---|
| Securities and Exchange Commission: | |||||
| 15 U.S.C. 77h-1(g) | For natural person | 2010 | $7,500 | $7,500 | $8,156 |
| For any other person | 2010 | 75,000 | 80,000 | 81,559 | |
| For natural person/fraud | 2010 | 75,000 | 80,000 | 81,559 | |
| For any other person/fraud | 2010 | 375,000 | 400,000 | 407,794 | |
| For natural person/substantial losses or risk of losses to others or gains to self | 2010 | 150,000 | 160,000 | 163,118 | |
| For any other person/substantial losses or risk of losses to others or gain to self | 2010 | 725,000 | 775,000 | 788,401 | |
| 15 U.S.C. 77t(d) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 78ff(b) | Exchange Act/failure to file information documents, reports | 1936 | 100 | 210 | 525 |
| 15 U.S.C. 78ff(c)(1)(B) | Foreign Corrupt Practices - any issuer | 1988 | 10,000 | 16,000 | 19,787 |
| 15 U.S.C. 78ff(c)(2)(B) | Foreign Corrupt Practices - any agent or stockholder acting on behalf of issuer | 1988 | 10,000 | 16,000 | 19,787 |
| 15 U.S.C. 78u-1(a)(3) | Insider Trading - controlling person | 1988 | 1,000,000 | 1,525,000 | 1,978,690 |
| 15 U.S.C. 78u-2 | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others or gains to self | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others or gain to self | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 78u(d)(3) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 80a-9(d) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others or gains to self | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others or gain to self | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 80a-41(e) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 80b-3(i) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others or gains to self | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others or gain to self | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 80b-9(e) | For natural person | 1990 | 5,000 | 7,500 | 8,908 |
| For any other person | 1990 | 50,000 | 80,000 | 89,078 | |
| For natural person/fraud | 1990 | 50,000 | 80,000 | 89,078 | |
| For any other person/fraud | 1990 | 250,000 | 400,000 | 445,390 | |
| For natural person/substantial losses or risk of losses to others | 1990 | 100,000 | 160,000 | 178,156 | |
| For any other person/substantial losses or risk of losses to others | 1990 | 500,000 | 775,000 | 890,780 | |
| 15 U.S.C. 7215(c)(4)(D)(i) | For natural person | 2002 | 100,000 | 130,000 | 131,185 |
| For any other person | 2002 | 2,000,000 | 2,525,000 | 2,623,700 | |
| 15 U.S.C. 7215(c)(4)(D)(ii) | For natural person | 2002 | 750,000 | 950,000 | 983,888 |
| For any other person | 2002 | 15,000,000 | 18,925,000 | 19,677,750 |
* Adjustments include any revisions by Congress in statute, or by the agency through regulation, other than pursuant to the Inflation Adjustment Act.